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  • Originally published 05/24/2016

    What Does Retirement Mean?

    Steve Hochstadt

    Our most eloquent revolutionary, Thomas Paine, was a “forerunner of modern social insurance”, as the Social Security Administration calls him. In 1796, he advocated a 10% tax on the inheritance of property to create a fund which would pay a yearly pension to everyone over 50, “to enable them to live in Old Age without Wretchedness, and go decently out of the World.”